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a poll in frons show those in the uk would prefer to leave the eu. we are waiting on the results from italy's latest debt auction. it will be two years of a zero coupon and five years of an italian linked paper. we'll get the results coming up in just a moment. here is a check of the european markets. we have seen them particular to the upside. now with the exception of spain trying to fight back into the green this morning, bolstered basically by the general risk on attitude. perhaps some of the credit flows, some of the equity fund flows boosting stock markets around the world. here is a look at who is leading the index this morning. onte paschi is on the top of the board, up 6.35%. today it's continued to snap back on hopes of.continued investor returnings. asml, elements which help make computer chips is up about 4%. it has been upgraded. it's viewed as a winner here in the mobile phone wars as more continue to shift to that market. sbm offshore, peugeot, tnt express towards top of the pack. at the bottom, it's a different story. down 3.5% o a downgrade, some other companies there
david cameron promises to hold a referendum on the e.u. warning that a concession for the democratic leadership is wafer thin. >> if we don't address these challenges, the danger is that europe will fail and the british people will drift toward the exit. >>> google could light a fire under u.s. markets today as the giant's fourth quarter profits top forecasts on higher ad revenues. >>> and here in davos, bank ceos fight back against regulators in an exclusive cnbc debate, apologizing to scandals of the past but defiant it the role of the industry. >> i think there's so much misinformation out there that's used aggressively by people for their own purposes. we provide a service to you. we make a little money every time we do it. that's what happens. >>> and ceo confidence down for a third year in a row according to a survey here. despite markets hitting multiyear highs with lack of decisions in the u.s. weighing on sentiment. >>> okay, hello and welcome to the start of our coverage from the annual meeting of the world economic forum here in davos. day one of three come. kelly, i could
of there being a straight referendum on being an in/out referendum, part of the eu, not part of the eu, which is mixed from where most people think they are. >> some of the surveys show the people becoming more worried about it and we saw those comments, what's his face, labor leader over the weekend saying that he's walking out of the eurozone. so clearly, he finds that there's political gain to be made from -- >> and then you saw this british train commerce survey, just 26% of them wanted to keep the status quo, right? >> i thought this was extraordinary. i was surprises how low it is. in this survey, when you ask businesses about how much in favor they are of keeping things the same, only 24%. >> 59% wanted a looser relationship with the eurozone. most people would say, we want to stay part of the eu, but we would like to have far less regulation, far less judgments than just have been contemplated from the european court. >> is britain going to be able to say that where they get rid of the regulation and teen the market and all that? >> that's the number one question. >> and we will explo
. >> including the eu address. stay with us. >> if you have never traveled around the country, you have probably climbed on to retrain. >> trains could just about everywhere in the national network has enjoyed competition protection for decades which has ended and long-distance domestic bus services taking into the road. >> the passengers are tired on this bus from frankfurt to berlin, but many welcome the new long distance lines as an alternative to trains. >> it is cheaper, direct, no delays, very punctual. >> there is no bus the hamburger, but that would be good. i have of friends there -- no bus to hamburg. >> i think it's great i can take the bus there. >> they passed the time by playing cards or taking advantage of the free wifi. they have plenty of time and not a lot of money. it is almost like a social events. >> it is just more cozy. >> the company, dein bus of, is showing promise. they're targeting young clientele with quirky videos, but there is a catch. it happens only if enough passengers buy tickets. their advertising one-year wrote tickets and the price is a key. they see this as
.k., the british finance minister, george osbo e osborne, wants the e.u. to toughen bank regulation across the 27 member states. britain's set plans in motion to separate retail investment decisions in part on proposals from the finnish central bank governor. the fed is also reportedly considering a plan to help banks avoid costly regulations aimed at preventing derivatives trading from being subsidized by taxpayers. the "financial times" says it stems from the lincoln amendment, included in the 2010 dodd-frank law. it prohibits banks that have access to federal deposit insurance or fed credit from acting as derivatives dealers. u.s. banks will still be able to trade some products like interest rate swaps. under the rule, foreign banks would be forced to move their u.s. derivatives activities off their books. >> yeah. if you followed that, you get a gold star this morning. it's a tricky one. >> there's a law that means foreign banks will have problems trading derivatives in the united states. >> charlie, any thoughts here? >> you know, it's part of this broad regulatory framework being put in pla
results in europe look set for a change. the eu muniea explains his investigation into the search engine. he's convinced google is profiting by diverting internet traffic for certain businesses. >>> american skres announced better-than-expected earnings for the fourth quarter. it saw revenues of $8.4 had billion. it will make big restructuring changes which includes 5,400 job cuts throughout the quarter. shares dipped in extended hours of trading the. >>> and the fate of superman remains firmly with warner brothers and dc comics after a decision from a california court. the court of appeals said that the rights for the man of appeals should not stay with the cocreators. the decision means that warner can release this summer's new superman reboot without fear of legal challenges. so we're watching today. who is your favorite hee roar? superman, ironman, super mario draghi? whoever you like, e-mail us, tweet us. my produces asked me who i thought my favorite super hero was. it took my a while to think about it, but then i thought hong kong fooey. there you go. many happy memories. talking
as the eu politics are, they're on their way to unified banking regulation in the eurozone. their crisis fund has stabilized. it's not going to be pretty and it's going to take a couple of years still, but we are on our way to a stronger and more unified eu, with or without britain over time. >> what do you think? >> a little bit too positive to me. i would say europe is probably not coming apart. different said statement than europe is coming together. i think the reason it probably won't come apart is greece, not france. sooner or later, that is the real test. the president of france is taking france in directions that are truly unsustainable economically. but for germany, it's one thing if greece were to leave, but for france, it can't leave. if you're germany, that's the whole core, the whole concept, the dynamic of post-world war ii european integration. germany will go to great lengths, i think really whatever lengths it takes to keep france in. europe will survive but economic growth is not going to take off, it's still going to be extremely weak because it doesn't have in place a
the bailout. that was an incredible show of will. halting and clumsy and awkward as the eu politics are, they're on the way to banking regulation in the euro zone. it's not going to be pretty and it's going to take a couple years still, but we are on our way to a stronger and more unified eu with or without britain over time. >> what do you think? >> too positive to me. europe is probably not coming apart. different said statement than europe is coming together. the reason it probably won't come together is not greece, it's france. sooner or later, that is the real test. the president of france is taking france in directions that are truly unsustainable economically. france can't leave if you're germany because that's the whole core, the whole dynamic. the relationship. germany will go to great lengths, really, whatever lengths it takes to keep france in. europe will survive but economic growth is not going to take off, still extremely weak because it doesn't have in place any of the prerequisites. >> the head of morgan stanley had a piece where he said that europe is actually going to bounce
, the eu debt crisis and superstorm sandy are expected to top issues. take a look at shares this morning. before the report, they're down .75% in frankfurt. so trailing the 34k9. they have been roughly flat over the last few months. james is a huge fan of werings season. you're so excited about this one, i know. >> i live for the wering hes season. you could spend almost your entire time -- >> there's only about three months of the year when you're not engaged in looking at earnings. >> ask you're probably on holiday. >> and are we too focused on werings season? >> samsung, earnings results up, share price down. if you think earnings is relative for share price performance, it isn't. we're talking about the reporting season rather than the underlying earnings. >> they have quite a lot of leeway. they've given guidance to the analysts about what those earnings might look like in the near term. all the analysts are pawing at the results. all in all, a huge amount of activity and brain power wasted on something which in the near term has been well flagged, isn't that important. >> at the sa
around the world. social democrats take control of the house and the eu is forced out of power in lower saxony. plus, optimism by the u.s. as republicans attempt to break the budget stalemate in congress. investors pulling back in japan as the boj begins its two-day meeting that's widely expected to back more easing and a new 2% inflation target. >>> and heavy snow bringing travel across northern europe. hundreds of flights canceled here in the uk. france and germany, too, with disruptions expected to continue for several days. >> yes. welcome to "worldwide exchange." ross westgate is away. he will be back later in the week from davos and along with plenty of other people and a lot of great guests. it's a three-hour program. the first three hours, i think the third you'll have to flip over to cnbc to catch. we will be heading out to washington as the capital prepares for the inauguration of president barack obama. but will he spend the next four years at the mercy of republicans? we'll explore that. plus, we'll assess if israel could be medicining for a right coalition as benjamin netan
chancellor merkel certainly wanted to keep in the e.u. because they never went into the eurozone. but they are an active member of the e.u.. she wants to keep them in. >> time is getting a little tight here, so let's go to two questions very quickly. right here and then right over here. >> do you think it would enhance economic opportunities in asia if we had more asian members of congress? >> that's an interesting thought. of course, some very senior members of congress, in fact, the senior senator just died who, inouye, who had tremendous clout there. and you're seeing more and or more asian members elected, male and female. and i think you'll continue to see that. you know -- >> who else -- [inaudible] >> well, you have, i think there are several. you have one who's a korean, i think you have one korean-american, and i think you'll see more going forward because you've got a lot of asian americans who are mayors, you know, in major cities. and i think that the answer is i think would be very helpful to have more asian-americans as members of congress. and, of course, you had g
early to say. i think the eu has taken action, the situation is much more stabilized, uncertainties have reduced. so i think we are on the right path for further growth. >> it's going to be a reasonably good year. if you exclude europe, i would say it's going to be a good year for the industry, but when you include europe, it's going to be exceptionally good. we are looking at the car market with the construction of 8%. we are protecting 3% of construction for 2013. i don't think in europe we are still in the recovery mode. except europe, growth everywhere. >> you see the different twist or europe in particular dpifg more stability. it's about combining different disabilities to reboost growth. >> all right. the final quote there coming back little by little, maria. >> yeah. a big diversified group of executives talking about the environment. joining us right now is the ceo of coca-cola, muhtar. it's great to see you. >> great to see you. >> what do you think? >> well, we continue to see opportunities everywhere in the world, the kind of opportunities are continuing to contract the code
's going to do a referendum on whether or not to keep the uk in the eu. what would be the implications if the eu has left? >> i think we are still quite far from that happening. of course, this announcement of a referendum years from now is creating uncertainty and is not necessarily helpful in terms of stabilizing the economy, neither in the uk or in the european union. >> do you think changes need to be made in terms of policies to encourage the uk to stay? >> in fact, many of the elements or the policy agenda of david cameron are something which are very important and the commission is working for the confidence of european industry, a rather comprehensive free trade agenda as well as the competition of the single market. this beneath for restoration of the european industry and of returning to sustainable growth and better employment. but there is no need to leave the european union for the policy -- >> this morning, as you well know, the foreign affairs and trade, as well, there's quite a lot of support around europe for david cameron's thought process of what he wants to achieve
brown with your fox news minute. talk of britain leaving the european union. eu membership will be up to a referendum. voters should decide whether the uk should stay in the 27 member euro zone. the first priority is renegotiating the eu treaty. timothy geithner at last they will be friday. president obama has elected jack lew. much of the u.s. experiencing the coldest temperatures in two years. for death are blamed on the cold snap. the bitter conditions are expected to stay into the weekend. dagen, back to you. dagen: jamie dimon apologizing. also, stepping up and saying back off. there is more regulation needed. he said all of this at the world economic forum. we are president and chief investment officer. he is in rochester, new york. maybe the only place on the planet that is colder than where you are sitting right now. >> happy to be here. dagen: what do you say to jamie dimon? there was one hedge fund manager that went after him. he said back off. >> well, jamie is right about the capitalization. he has incredibly strong capital. a lot of the standards forced the banks to have
. in the u.k., this big e.u. debate about how important is european trade in the future, as well. you've also been speaking to the prime minister of latvia. what does he have to say? >> reporter:. latvia is a poster child, isn't it, for those on the right economically if you like who think that austerity and paying dunn your debts is the way that you restore growth. latvia had a very difficult crisis. they had negative growth and a contraction of the economy of somewhere around 20%. last year, they grew 5%. this year they're expected to grow 3.5%. and that's because they front loaded a lot of the cuts in government spending, and they forced down wage rates. i caught up with the latvian prime minister earlier this morning on "squawk box" and said, well, you've done it, greece, spain, italy, portugal, perhaps they should be learning lessons from you. let's listen to how he responded. >> i wouldn't go as far as now to tell exactly other countries what should be -- what they should be doing because each country has its own difficulties and its own way out of the crisis. but in general, we see tha
. i want you to react. start with number 10, that eu structural problems we main unresolved. when i first heard that, i don't think they will be unresolved. you're right, the market has bid things it's looking like the world is better. >> last year, all the european markets were up and europe was in a semi-recession and all the european markets were up semi-20% and i have them down this year in reaction. >> what about the euro? >> euro is relative to the dollar. ecb expanding the money supply and fedex spanding money supply. it's a race to the bottom. i don't know who will win it but i don't think there will be much change to the euro. >> i don't think euro ever resolves this issue, does enough to put them off when under pressure. >> sounds familiar. >> that's the environment we're in. i do think the markets are signaling core europe and stock growing again this year, growing uf to keep the eurozone out of its recession. if that doesn't happen, markets will go down. >> the surprise component of that is the 10% decline in the various european indexes. that's what people aren't prepar
the world. did you see this poster from the e.u.? showing all the symbols of europe? it showed a cross, the star of david and the muslim crescent and so on and the hammer and sickle. there is an outcry from the lithuanians and i asked why does it take the lithuanians ,-com,-com ma why aren't we in the west sympathetic enough to sufferers persecuted under communism to object ourselves? why leave it to these folks but there it was. i am fairly relaxed about these common symbols. if you see a guy with the ccc piece white shirt and you see these trinkets and hammers and sickles and so on. i once did a study of this, simple magazine piece, and some people say it's proof that we weren't that we can mock that. is just kind of funny. you don't see swastikas and he don't see pictures of goering on t-shirts and you don't have people say it's just a t-shirt. daniels points out che guevara only took one good picture in his life. he looks like a movie star in the picture. he got his cheekbones just right but other pictures he wasn't that much really, honestly. this is all regarded in chambers reall
a positive or more negatively? >> pakistan sees a positive role for the eu, united states, other organizations, international organizations. but what is the role that nader sees for itself? is it military when we talk about nato? or is it economic? or is it political? i think nato doesn't appear to where so many hats. basically, when we talk about nato we're talking about military. well, that i think has already been discussed. but certainly the eu, other organizations, the united states, really has very important political role, economic role. i think afghanistan -- i think nader can also help support the iran army to do a better job with its resources. so we are in favor of that, this kind of role. there was one mentioned about india and transatlantic trade comments it appeared that also comes -- there are so may things that can be done if only the conflicts situation gets resolved, and also in the border area with pakistan. >> ambassador jawad, nato's will? >> yes, particularly i think your question was on nato's role through northern afghanistan. i think this is a key importa
proposal, set forth by the uk independent commission on banking and the eu's group. sir john vickers, chairman of the independent commission, has argued criticized the coalition government and the backing away from his original proposal. while the european commission's recent report summarizes the responses received and it acknowledges the widespread opposition of a proposal in a determinedly understated action. it argues that a compelling case for mandatory separation of trading activities hasn't been made. they felt that the proposal is not backed by the required evidence and that there was a need for thorough impact assessment. with all due respect my to my friends in the european financial regulatory community, what a regulatory proposal is used within the eu, considered too harsh on the financial industry and harmful to markets, it's a clear sign that it's time to take a step back and reevaluate. regardless of what happens respect to the proposals, even if all of the most vitriolic allegations set forth are true, even if our financial giants act solely and ruthlessly out of self
saying you're special, but only special if you stay at the heart of the eu. they're under pressure to renegotiation the relationship with brussels. but the u.s. assistant secretary said such a plan would have major consequences. as chairman of the business in europe outlined on cnbc last night. >> we don't want to run the risk of trying to set the bar too high in the sense that there's some fantastic renegotiation we can have where we can cherry pick the bits we like, get rid of the bits we don't, because the chances of that happening are probably close to zero. so we don't want to see any risk in our membership. we want more reform by absolutely we do. we made that very clear in the letter. but we don't want to risk or membership because our membership is responsible for millions of jobs and underpins our future prosperity. >> so that debate is going to em. at the same time, david, you think the pound is going to come under pressure. it's a triple cocktail that's going to undermine it. what is that? >> yeah. that's the idea we had, we were talking last year about europe rate cuts,
. reports say the action was taken on concerns was not complied to comply with eu safeguards against money laundering. the vatican is now looking for a non-italian bank to help with card services. they did not comment on the bank of italy's concerns. i'm assuming that the vatican is notre dame supporters, as well. >>> meanwhile, the countdown is on the u.s. jobs report. plenty more to come on "worldwide exchange" right after this break. >>> so naturally the jobs report will demand the bulk of the spotlight for investors. there are some other xhb reports out this morning. the nonfarm payroll reports out at 8:30 eastern. then we go the ism services index released at 10:00 a.m. eastern, looking for an index of 55.4 down from november. also at 10:00, we get november factory orders. janet yellen speaks about systemic risks at the annual meeting of the economics association at 3:30 p.m. futures are atlanta at the moment indicating a flat start but, of course, the open after the report that implied open for the s&p for what it's worth up .2 points for the s&p 500, dow jones is down 7 and fass dak
that they then find a solution presented to brussels and basically present the rest of the eurozone or the eu with a -- do you think this criticism is justified? >> certainly this is a point of criticism that's made outside of germany and france but that's made inside germany and france. some politicians frmt call for widening of the partnerships such as poll left-hand looking towards the east or spain or italy. even more so in the french population. there's a call of widening this partnership. as i've said, france and germany often do have contradictory policy positions. so other countries can really find themselves within these positions, i think. so at the end of the day, it's not so much i think a question of content, but rather a question of style. so what germany and france need to make sure is that they do show leadership, as i've said, to their political and economic weight, but they do find the balance between leadership and dominance because surely dominance is not what either of the two countries or any country in europe would want. >> lead but don't -- >> back to you. >> thank you
cameron speaking this morning. does that have any impact on your business? >> it does in a way. because u.s./eu trade is the one trade agreement that the u.s. has not done. that the europeans desperately need to get done. >> right. so the uk being part of that yes or no i would venture to say our government is going to have a lot to stay about the uk staying part of the eu i think as has been indicated. >> did you catch any of the comments about tax avoidance, sort of global tax avoidance issue? >> no, i did not. i'll stay quiet on that one. >> the other big topic here, energy. >> yes. >> and in particular, the u.s. energy situation, shale, fracking, et cetera, you bullish, you bearish, where do you think we really are? i mean people have prognosticated for now awhile that we were going to get there but doesn't seem like we're there. >> andrew, i think it is the bull case for the world. so to answer your question, i'm billish. and i think it's a game changer. and i think it is probably the story of global economic recovery if handled right. and frankly, the beneficiaries of that will be the u.s
to -- ountries that aspire to ascendancy in the eu. progress there will continue american leadership. i hope we will continue to work again to the region to ensure -- in the region to ensure that they continue to make progress. >> we will, senator. thank you for your leadership of the european foreign subcommittee. i look forward to working with a. -- you. >> senator kerry, i appreciate your thoughtful opening statement in response to these questions. i have a great deal of respect for your level of experience. i would've enjoyed working with you as a member of the committee. i will enjoy working with you as secretary of state. these are complex issues, these are dangerous times. i grew up helping politics at the water's edge and was true. -- hoping that that maxim that politics ends at the water's edge was true. i believe we share the same goals. we want a secure, prosperous america. i think that starts being open and honest with each other. i hate to go back to yesterday's news and by yesterday when i was asking a relatively simple question, secretary clinton's reaction was "what difference a
that aspire to ascendancy in the eu. progress there will continue american leadership. i hope we will continue to work again to the region to ensure they continue to make progress. >> we will, senator. thank you for your leadership of the european foreign subcommittee. i look forward to working with a. >> senator kerry, i appreciate your thoughtful opening statement in response to these questions. i have a great deal of respect for your level of experience. i would've enjoyed working with you as a member of the committee. i will enjoy working with you as secretary of state. these are complex issues, these are dangerous times. i grew up helping politics at the water's edge and was true. i believe we share the same goals. we want a secure, prosperous america. i think that starts being open and honest with each other. i hate to go back to yesterday's news and by yesterday when i was asking a relatively simple question, secretary clinton's reaction was i think it makes a big difference. i think it matters a great deal at the american people get the truth. i think they have the right to be told the
. bmw the standout, up .4. there were only two countries in the whole of the e.u. where they improved new car registrations, one was the u.k. although the wider economy is fairly weak. and with bond yields heading toward the u.s. session later, gild lower. and it is worth pointing out that there was a syndicated $6 billion 15-year issue. they're looking to raise $3 billion to $5 billion. italy nearly raised 10% of required funding for the year. they're frontloading debt kwa t requirements as they should over the first couple of weeks. that's where we stand in europe. back to you. >> a 50-year issue. holy smokes. thank you. >> 15 -- >> 15? oh, i misheard. that was the italians, right. >> 15. >> got it. >> yeah. >> thank you. >>> coming up, the state of the financial -- see, i'm glad i asked. the industry's leading trade group joins us to talk profits, regulation, and a whole lot more next. >>> first, heading to break, look at yesterday's winners&losers. ♪ [ male announcer ] don't just reject convention. drown it out. introducing the all-new 2013 lexus ls f sport. an entirely new pur
growth. recovery under the spotlight. it takes on the rotating presidency of the e.u. steve spoke to the country's deputy prime minister and asked about dublin's plans to exit the e.u./imf support program and the chances of ireland brokering a budget deal during its pregnancy. >> it was disappointing the agreement wasn't reached in november. the president is proceeding with having discussions with member states. we expect that in and around february or certainly the early part of the year that there may be new proposals for a european budget for the next seven years. i think it's important that the european union has a budget that is fit for purpose. member states have given the european union a lot of additional competences over the past number of years. and it's important that we have a budget which is capable of delivering on those. and in particular, delivering on the initiatives that the european union needs to take to get the european economy to grow, to create jobs. areas like research, for example, the common agriculture policy. these are areas that need financial support
pedestrians just can't see cars coming up the 4eu8. >> i'm new to san francisco in the last five months, so this is a new area for me and i am aware of the problems with this in particular. so it breaks my heart, having children of my own. >> now there is a sign that you can see there that says no crossing at that intersection. police haven't said whether the taxi driver will be cited in the accident >>> funeral plans are pending for a 19-year-old alyssa byrne. the petaluma girl whose body was found on a snowbank in tahoe after disappearing on new year's eve. this weekend several sonoma county restaurants are holding benefits in her honor. a photo of alyssa is greeting customers at the beyond the glory sports bar and also hanging photos of her that were taken when she played little league baseball. >> she was a ball of energy, a ball of life, and you know, she will be missed by us. every day. >> alyssa dreamt of becoming a firefighter paramedic, and members of cal fire presented her family a fire fighting patch to welcome her to the cal fire family. proceeds from the fund-raisers will go to
a departure from the e.u. reme we ng about that, but some kind of modification. they have more financial transactions to tax than anybody else in europe. i mean, france and germany can say they have no problem with it. that's because they don't have that many of them. so that's why. >> you know, michelle, the big story may be whether or not "downtown abbey's" finances are being mismanaged. >> if they reduce the number of seasons because of that, that would be terrible. >> i knew that would get you. thank you, michelle. >>> let's get a check on energy and commodities. >> hey, from europe to asia, we're looking at japan as a key driver in the commodities markets today. of course the bank of japan stimulus plans, something that's helping many commodities including gold and the fact we may see inflation down the road for gold. and we're finding them above the 16 90 level. it looks like it could be a doubtful case for gold to continue its gold run. that something that citi is looking at its inability to sustain above the $1,800 level. that may weigh on the bullish case for gold. that's accord
pleated, we still have those countries that aspear to ascend ancy into the e.u. i would just urge you that further progress in that area is going to continue to require american leadership. i hope that we will continue to work in the region to ensure that they continue to make progress. >> we will, senator. i just want to thank you for your leadership of the european affairs subcommittee you've done a tremendous job working on it and i look forward to working with you. >> senator kerry, i appreciate your thoughtful opening statement and your thoughtful response to these questions. i have a great deal of respect for your global experience, your depth of knowledge in these areas. i would have enjoyed working with you as a member of the committee and i'm going to enjoy working with you as secretary of state. as you said, these are complex issues and these are dangerous times. i certainly grew up hoping that that maxim of politics ends at the water's edge was actually true. i'm not sure it ever was but it's something to aspear to. we have the same goals, we want a prosperous and secure am
and to the e.u., and i would just urge you that further progress in that area is going to continue to require american leadership, and i hope that we will continue to work in the region to ensure that they continue to make progress. >> we will, senator. and i just want to thank you for your leadership of the subcommittee. you've been absolutely terrific and i look forward to working with you. thanks. >> senator johnson. >> thank you, mr. chairman. senator, i appreciate your thoughtful opening statement and your thoughtful response to these questions. i have a great deal of respect for your level of experience, your knowledge in these areas and i would have enjoyed working with you as a member of the committee. i'm going to enjoy working with you as the secretary of state and i mean that in all sincerity. i want to have a close working relationship. as used in your opening statement, these are complex times. you know, i sort of grew up hoping that that maximum of politics at the water's edge was actually true. i'm not sure it ever was, but i think it's something we can aspire to. i truly think
saying eu commission, the european union body is basically saying no-go with the deal. it was sproefd to close towards the end of the last year. obviously, hasn't happened. today you can see the shares down 40%. this company is going to need a new ceo, a new strategic vision. and its biggest shareholder down about .3% on the news. fedex declined to comment this morning. now let's turn our attention briefly to this. it gives us a sense of this mentality of the crisis being over, that it's kind of gripped investors to keep hearing the bullish comments we have on people in the program. spain's ten-year still below 5% even though we're seeing prices down this morning and the yield for the ten-year in italy down 4.2. quick look at the euro/dollar which is benefiting here and has been doing pretty well of late. 1.3359. adding another .1%. just for joe, i'm going to skip talking about the yen today and that's in part because the nikkei is closed. back to you guys. >> i thought you were going to reference your -- is that a golden -- were you at the gold b globes? that looks like you paid some
at the e.u. level. we have been for investigation for it almost two years by the commissioner there and his staff. during this period, they comment from everybody and we give them literally millions of documents. we are busy negotiating with them. we don't think we violated any european laws, but we're happy to have the conversation and 're sort of now waiting on with a they decide to do. we have been negotiating back and forth and they have announced that publicly. in the united states, the law is similar but different if the way it's applied. in our indication, the government to have the federal trade commission look at this and a similar investigation is underway. there were a sers of hearings. i testified at the hearings and, again, i don't see the consumer arm under section 2 and we have asked the government to come back and give us the examples of things which are violations of law. we haven't seen that yet we are also in negotiations with them. that's probably all i should y. what i would say is we talk to these people a lot. we're waiting on them at some level. the ideal scenarioou
versus the dollar. and you can see right now, the dollar is stronger against the eu euro. gold prices are down by about 6.30, $1675.30 an ounce. right now, let's get to the global markets report. ross westgate is standing by in london. good morning. we haven't seen you in quite a while. you have a lot of red behind you this morning. >> we have, indeed, becky. i saw andrew more recently than i've seen you over there in davos. yeah, look, we are down. you can see decleaners outpacing the decliners. we're down at the session low. down around .0. the spanish market down 1.5%. that's down to bank stocks. they're all off heavily because of santander. santander is europe's largest lender in the eurozone. stock off 2.3% today. there's 2012 net profit more than halved hurt by big losses in real estate, write-downs and property assets. also key growth spots as latin america down, as well. they're setting aside another 18 billion or 19 billion euros for provisions in 2012. they said they may still sell some more addette az. there's a lot of restructuring going on, as well. the market has been fo
enlarging the stability in europe itself by enlarging our institution, the eu or nato. what's happened to that agenda? is a no longer a part of the democratic countries? and if the answer is was so care about -- are whether georgia can become more stable, how do we get smarter about it? it isn't obvious our institutions hold the same if you used to hold five or six years ago. it isn't obvious that comes like ukraine had to stay democratizing instinct, the country of central europe had 10 years ago. so what, if anything, would you do different to make sure part of your democratic in state? >> i'd like to say quickly, i think some countries have taken a bit of an appetite suppressant when he came to their ambitions of being part of the european union, for example. >> but they are democratic. >> but they are democratic. but there also has to be benefit that flows. i think that is very much a part of the typos as to whether people are going to pursue being part of a larger union, being part of an obsession like nato. there has to be some apparent benefit in so doing. you know, the ability
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